Lines of business

Earlier this month, Inside P&C revealed that the underwriter hired ex-Ascot EVP Becker and a team of four executives to spearhead the Aquiline-backed MGA’s entry into D&O.

From January to July, Euclid received an average of 26 claims per month, a nearly 21% increase from the 21.5 average notices per month in 2022.

Under an advisory agreement, Enact will provide underwriting expertise, market intelligence and portfolio analysis.

If the storm steers clear of Tampa, reinsurers will be well placed for minimal losses, but a retention loss is a further blow for weak Floridians.

Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.

Rate fluctuations are expected in the market, due to the emergence of new risk-differentiation models and cyber security standards.

The estimate includes privately insured damage to residential, commercial and industrial property, as well as automobiles. Boats, offshore properties and NFIP losses were excluded.

The company’s Monday statement is the latest development in a debacle that could potentially lead to a major loss event for the utility company’s casualty insurers.

In late May, this publication revealed the appointment along with Mauro Signorelli’s, who served as head of international cyber at Aspen Insurance.

AIG has been course-correcting since 2008, but recent efforts including AIG 200 seem to have finally set it in the right direction.

The two subsidiaries, which together command less than 1% of the homeowners' market share in the Golden State, are the latest to flee amid persistent inflation, high cat losses and a strict regulatory environment.

Some carriers have already hit GWP targets for this year and are refraining from writing any new cat risks unless it fits a very favorable profile, the firm said.